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Reckon/Quickbooks – Stock on Hand value adjustment

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Reckon/Quickbooks – Stock on Hand value adjustment

Reckon/ Quickbooks – Stock on Hand value adjustment

An interesting issue from the Reckon Community – Stock Value Adjustment 

Leanne We commenced a new clean data file for a small community supermarket store as at 1/7/14. We imported the stock but then learnt that the SOH does not get brought across. The stocktake taken (stock on hand) as at 30/6/14, has been manually entered into a new data file, however for some reason the values do not agree, something was amiss with a couple of average prices. We tried to then do a stock value adjustment whereby we manually compared the stock valuation report from 30/6/14 in old data file to stock valuation report as at 30/6/14 in new file and then entered the correct values where applicable into new data file as at 30/6/14, without adjusting the on hand stock. Then a stock valuation report was printed as at 30/6/14 and the “stock values” did not match. Can you advise if the adjustment is a straight dollar replacement as we have done? If so any clues as to why the values might not agree?

Graham replied – It may be that some items that where on-hand at 30/6/14 have since been made inactive. Reckon Accounts inexplicably (and incorrectly) does not include Inactive items in the Inventory Valuation Summary Report. Are there any items you had on hand at 30/6/14 that are now inactive? You will need to make these active again so the 30/6/14 report reflects their value.
My approach to this whole job would be to generate this report and export to excel in both the old file and the new file, then use excel to do the hard work for you to identify which products have changed Qty and/or values. If you haven’t got the expertise to do this, I can do it for you on a fee for service basis. It’s only a couple of hours work involved, but it could save you hours and hours work if you have a few thousand items.
Graham Boast Reckon Accredited Consultant

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Author: accountkeepingplus

Administration, bookkeeping and compliance for small business, Training, trouble-shooting, or we can do the books and payroll for you! Self Managed Superannuation Fund Service Provider, free support MYOB Certified Consultant, Reckon/QuickBooks Professional Partner.

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